As Trump Ravages Economy, US Consumer Sentiment Hits Record Low
A Democratic spokesperson said that "Americans are drowning under rising costs, flat wages, high unemployment, and historic layoffs—it's no wonder they're concerned about how they're going to make ends meet."
As President Donald Trump continues to push his economy-wrecking agenda of tariffs, mass deportations, and military aggression, US consumer sentiment hit an all-time low on Friday, according to the University of Michigan.
The final April figure from the university's Surveys of Consumers was 49.8—slightly higher than the preliminary 47.6 from earlier this month, and the 48 predicted by economists polled by Reuters, but still a record low, down from 53.3 in March.
"Decreases in sentiment were seen across political party, income, age, and education," noted Joanne Hsu, director of the Surveys of Consumers, in a statement. "Expected business conditions declined for both short and long time horizons, nearly matching year-ago readings when the reciprocal tariff regime was implemented."
"After the two-week ceasefire was announced and gas prices softened a touch, sentiment recovered a modest portion of its early-month losses," she continued. "The Iran conflict appears to influence consumer views primarily through shocks to gasoline and potentially other prices. In contrast, military and diplomatic developments that do not lift supply constraints or lower energy prices are unlikely to buoy consumers."
So, it's official: the UMich FINAL Consumer Sentiment reading for April holds at a record low, while stocks are at a record high.
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— Mike Zaccardi, CFA, CMT (@mikezaccardi.bsky.social) April 24, 2026 at 10:01 AM
As Common Dreams reported earlier Friday, as the national average price for a gallon of gasoline sits at $4.059, new Reuters/Ipsos polling shows that fuel costs "are a very big concern" for 78% of Americans, and 77% blame Trump for the recent spikes.
In a social media post about the new University of Michigan record, Groundwork Collaborative highlighted another poll: A Fox News survey found that 52% of US voters questioned April 17-20 believed Democrats would do a better job on the economy than Republicans.
The Fox News poll, released Wednesday, also found that 56% of Americans think Trump's policies are "hurting the economy," and majorities said gas, groceries, healthcare, and housing prices are a "major problem" for their family.
Democrats didn't waste time seizing on the new consumer sentiment finding. Kendall Witmer, rapid response director for the Democratic National Committee, declared that "Donald Trump has tanked the economy for working families."
"Everyday Americans were already struggling to afford rent, groceries, and prescription drugs, and then Trump decided to start a reckless war with Iran and push prices even higher—and for what?" Witmer continued, taking aim at both him and Vice President JD Vance, who has played a key role in negotiations with Iran.
"Americans are drowning under rising costs, flat wages, high unemployment, and historic layoffs—it's no wonder they're concerned about how they're going to make ends meet," Witmer added, "and Trump and JD Vance can't be bothered to make life more affordable for them."
